more on the net, this time from Steel...

more on the net, this time from Steel Guru.

http://steelguru.com/news/index/2009/07/18/MTAyNzc4/Aurox_in_talks_to_secure_funding_of_AUD_1_billion_ore_mine.html


Aurox in talks to secure funding of AUD 1 billion ore mine
Saturday, 18 Jul 2009
Bloomberg reported that Aurox Resources Ltd is in talks with a Chinese steel mill to secure funding for AUD 1 billion project.

As per report, the company has signed sales agreements with Hebei Iron & Steel Group and closely held Chinese steelmaker RockCheck Steel Group.

The report quoted Mr Charles Schaus MD of Aurox Resources as saying that “We have been back and forth to China, we are talking to some pretty obvious groups with regards to coming in as more than just.” But he declined to name the mill.

The report added that Mr Schaus will visit China next week for further talks with the unnamed mill and aims to secure an investment agreement by the end of the year.

Mr Trent Allen an iron ore analyst at Resource Capital Research in a report said that “Money is flowing into the junior end of iron ore share markets, with many exploration and development companies undertaking equity raisings. There are continuing signs of recovery in the iron ore sector.”

(Sourced from Bloomberg.net)